It’s often said that Britain is a nation of shopkeepers and small businesses.
To a certain extent that’s true: the country does thrive on the entrepreneurial skills of small business men and women. The current government fully backs these start-up businesses and believes that it’s their spirit and drive that will help to pull the nation through the current economic downturn. However, few of us are courageous or brave enough to start one ourselves. We’d rather not plough our hard-earned money into a venture with an uncertain outcome, particularly having seen so many new businesses fail after only a few months of trading.
We’ve probably also been put off by the statistics which indicate that approximately 50% of new start-up businesses fail within the first five years of trading: 43% of that total fail within the first twelve months. Although these statistics may look grim, it’s worth asking a couple of important questions: what about the fate of the other 50% of start-up businesses? How come they managed to succeed where others failed? What did they do differently? Well, although these start-ups faced the same challenges as the others, they succeeded because the majority had the backing of friends and family from the outset, and they turned to a firm like Steven Glicher for expert professional small business advice.
Every successful start-up business needs a go-to person they can turn to for help and advice: someone with experience who can help these budding entrepreneurs face all the challenges of building and developing a new business.
So what sort of help and advice can we offer to start-up businesses?
Steven Glicher offers a range of core business start-up services. We’re here to help you build your business and turn it into the success it deserves to be. However, successful businesses are not built in a day. They need to be planned, and it’s vital that every aspect of the business model is carefully and critically examined. Our expert business advisers are here to help you.
Start-up business services:
We offer advice on the areas of tax planning we feel are likely to be of most importance to you from the start.
We will advise on what we feel will be best for your business in the longer term. Should you be a sole trader, a Partnership, a Limited Company or even a Limited Liability Partnership? We will explain what options are available to you and recommend the solution we feel is most appropriate.
Raising finance and business plans:
When the time comes to expand and develop the business, out advisors will identify the type of funding you need, find the most suitable sources of finance, and calculate the cash-flow projections, budgets, and trading forecasts.
As qualified accountants we are in the best possible position to show you how to keep your books, either manually or on a computer. We can also advise and train you on suitable accounting software.
Business planning and growth:
Our experts will take an in-depth look at your business and discuss its potential with you. Together we will work out a plan of action and set future goals, and draw up a structured plan so that your business will be able to overcome all of the challenges it will inevitably face during the first years of trading.
Notifying the authorities:
It’s vitally important that you let HMRC know within 3 months of commencing self-employment that you are in business. Failure to do so results in substantial automatic fines. We will help to complete all the necessary forms, set you your national insurance payments and if necessary complete any VAT Registration forms for you.
As part of our mentoring role, we can introduce you to local banks, solicitors and other professionals you may need assistance from in the coming years.
We can also set up your Limited Company should you choose to trade through one.
We can give small businesses helpful advice on the advantages and disadvantages of VAT, and take care of any issues you may encounter